If you are deep in collections & you have a good job now, file for bankruptcy! You can try to pay those debts slowly & your credit score will never go up. My bankruptcy got discharged a year ago, at the some time my company has been doing well, & so have I financially. After 2 months of my bankruptcy being discharged, I got my 1st credit card offer for a $500 limit with no annual fee from capital one. Now I have 4 credit cards with limits between $1750 (the capital one card), & $3000. My credit score is at 720 & climbs every time these credit card companies show me an updated score. I wish I would have filed for bankruptcy in my 20's because doing so, they flood you with information about building credit & being financially responsible. Resetting your score is easier than trying to build it back after taking so much damage. It's a stupid, wasteful system, but it is the system that is put in place for us.
